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Property Q&A in Mission San Jose : Real Estate Advice

  • All29
  • Local Info4
  • Home Buying13
  • Home Selling0
  • Market Conditions2

Activity 2
Mon Jan 28, 2013
The Medford Team answered:
Guess what … if the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?
http://bit.ly/p11iq

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths
http://bit.ly/4PKTHT

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
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Sun Jan 22, 2012
John Souerbry answered:
Mindy - there is, indeed, a world of difference between 1 to 4 unit properties and 5+ unit properties. The financing certainly is different, as is insurance, etc. There are also additional government regulations that apply to managing a 5+ unit property.
But I wouldn't say that there are diminishing returns from properties that have more units. The opposite is actually true. The only question is whether or not you have the investor skills to swim in the deep end of the pool. Sometimes it's best to swim where your feet touch the bottom until you gain confidence in your ability to stay afloat.
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